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some company I have never heard of bought them out today, dont know what kind of business , it was in the austin, tx
business section of the paper |
Originally Posted by butterflies5518
I just saw on the news feed in our building that Jo Ann's agreed to a buy out? Anyone hear anything further??
Seems they have over 400 in all. I wish us all luck with the new owners ! |
Thanks for the info. I will follow it on the Wall Street Journal if they report any transaction.
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Originally Posted by charmpacksplus
I should have been buying stock instead of fabric :cry:
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I was grumbling about JoAnn's to DH and he said that most likely the equity company may be planning on selling off pieces of the stores or even as a whole. They could cut out expenses (which might include employees) so they can make a better profit off of the sale. They might keep the stores for a year or two before they sell.
I guess time will tell. |
I hate to hear of buy outs, people lose their jobs
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Hope it means good times for JoAnn, and that all the coupon values continue.
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Fabric Whisperer- I am so sorry that you had to give up a job you probably enjoyed for the sake of the bottom line for the higher ups. It seems that it is always the hard workers that end up loosing in the long run.
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Originally Posted by merridancer
Just remember that in any buy-out, the new owners have to have enough profit to pay off the debts that come with the buyout.....
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Tis sad news indeed. Stock up while you can, I don't imagine the great coupons will continue to be available. I hope i am wrong. This is definitely a "wait and see".
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